Beautiful low -carbon transformation embarked on a smooth road

Text/Zhu Runmin

Biden signed the "Inflation Act", revealing the relaxation of the Bayeng government's policy in the oil and gas industry, and provided a relatively stable transition model for the transformation of US energy to low -carbonization, which is conducive to promoting the development of the US oil and gas industry.

On August 16, the "Inflation Act" signed by the US President Biden was officially implemented. The theme of the bill is tax, health and climate. Among them, the content of tax and climate involves the new energy and oil and gas industries, revealing the relaxation of the Bayeng government's policies in the oil and gas industry, which is conducive to promoting the development of the American oil and gas industry.

First of all, linked to the development of new energy, the auction of oil and gas blocks in the US Federal Federal Public Land will relax. The bill requires the federal government to regularly hold oil and natural gas leasing auctions when the federal land plans to implement wind or solar project plans. As early as 2021, Bayeng signed an administrative order on the day of the president of the president, and suspended the issuance of new federal land and water and natural gas leasing and drilling permits for 60 days; "Administrative order, further suspend the new oil and natural gas block leasing auction of the new federal public land.

Until June 2021, after a dozen more states filed a lawsuit, a federal judge from Louisiana ordered the re -start of oil and natural gas block leasing auctions, but the Bayeng government was still strict with block leasing auction control. With the implementation of the "Angle Act", on the US Federal Public Land and Sea, oil and natural gas block leasing auctions will be linked to new energy development land auctions to obtain corresponding expansion and development opportunities. According to the bill, the Biden government will restore the previous auction of the previous auction but detained for $ 192 million and 2,700 square miles with a 2700 -square mile.

Secondly, carbon capture, utilization and sealing tax credit policy provides a help for oil and gas exploration and development. According to the current law, as of 2027, carbon capture, utilization and sealing tax debt, carbon was simply pumped into the ground to seal $ 50/ton, and used to increase oil harvest (EOR) to $ 35/ton. According to the "Activity Act", no difference is increased by 70%, which means that carbon can be simply pumped into the underground sealed $ 85/ton and used to increase the oil harvest (EOR) up to $ 60/ton. Carbon dioxide is a very good auxiliary agent that improves oil harvesting, but due to high acquisition costs, application promotion is relatively slow. Thanks to the "Angle Act", major oil companies will capture carbon dioxide applications to increase oil harvesting rate with a more positive attitude and action, and gradually replace hydraulic fracturing into an important development direction to increase oil harvesting.

Again, the minimum corporate income tax and taxation of stock repurchase may be more conducive to investment expansion. The "Angle Act Act" stipulates that large enterprises in the United States (income of more than 1 billion US dollars in the previous year) and large overseas enterprises in the United States' subsidiaries and branches of 15%of the lowest corporate income tax rates are levied on the company's repurchase stocks. 1%consumption tax. Although the main purpose of this move is to block tax loopholes, the effect derived from the regulations has promoted the continuous rolling investment, suppressing profit distribution and consumption. This provision is for all eligible US domestic companies and institutions, and it is also applicable to companies in the United States oil and natural gas industries.

For a long time in the past, most American oil giants, including Ex SenMobil and Chevron, allocated cash to shareholders through stock repurchase. On April 29, 2022, Exxon Mobil disclosed that the company launched the previously announced $ 10 billion stock repurchase plan, and the total amount of stocks repurchased in the first quarter of 2022 totaled 2.1 billion US dollars. The company plans to return a total of $ 30 billion in stock by 2023. On August 3, 2022, Chevron disclosed an annual repurchase guidance plan with a amount of 5 billion to 15 billion US dollars in public information. After the "Inflation Act" is officially implemented, the stock repurchase will inevitably be suppressed to a certain extent. More funds will be used to scroll and expand investment. Capture, use and sealing technology research and investment activities.

It is not ruled out that the "Afold Reduction Law" is the result of the compromise between the Bayeng government and the supporters of the oil and natural gas industries, but after all, the plan reveals the relaxation of the Biden government for the US oil and gas industries. The relatively stable transition mode avoids the potential risks of rapid transformation.

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